Newbie Questions

[Derrick Choice]

Hello BP members and friends. I am a new born when It comes to REI. I work a full time job as a teacher and HS Football coach. Anyway, I want to get started in Investing but really don't know where to start, or where to get money from. I have been watching podcast, and webinars, and doing tons of research but I'm still not quite comfortable diving in and getting that first Loan for a multifamily, of doing my first flip, etc. I need some advice on : How to get started with practically NO MONEY? Is it best to get a realtor involved being a newbie? And what are some key things to look for when searching for good deals on properties? (FYI I am aware of the many tools that BP has. Just thought someone might reach out on a more direct and personal level.) Thanks BP

[Michael Sessa]

Hey Derrick, Glad to see you getting into the game! I think the absolute best way to get involved is to find an investor whose been doing this for a while and bring your deals to him. Drive around, send out flyers, do everything you can to get your first deal. Then, bring it to your investor who will pay you a finders fee. Or, get it Under Contract and wholesale it to him. Both routes require 0 money from you. Do that a few times to build your bank roll. If you find a good enough deal, the investor may be willing to give you equity stake in exchange for bringing him the deal. I promise you that if you look hard enough, you'll have your first deal sooner that you think!